John Moody
John Moody
baltimore began bulk chesapeake competing dispose entire interest interests notable ohio pacific sale union
In 1906 the Pennsylvania began to dispose of the bulk of its holdings in competing properties, the most notable transactions being the sale of its entire interest in the Chesapeake and Ohio to independent interests and a substantial part of its Baltimore and Ohio holdings to the Union Pacific Railroad.
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The idea of connecting the waters of the Chesapeake with those of the Ohio had been broached by George Washington before the Revolution, and he had also prophesied the union of the Hudson and Lake Erie by canal.
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The panic of 1837, the contest of the United States Bank with President Jackson, its defeat, and its subsequent failure as a state bank, the consequent distress in local financial circles--all conspired to shift the monetary center of the country to New York.
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We paid off our loan and had some extra dollars to do some other things. And we love our new pool.